Central Indiana home sales up nearly 9 percent year to date
Inventory tightens by 6 percent; Sale prices increase nearly 5 percent year-to-date
INDIANAPOLIS – F.C. Tucker Company reported more than 16,000 pended home sales in the first half of the year, resulting in a year-to-date increase of 8.8 percent compared to this time last year. Year-to-date sales prices also increased nearly 5 percent. The average year-to-date sales price for a home in the nine-county area was $182,627.
June 2015 pended home sales, however, slipped 4.8 percent compared to June 2014. F.C. Tucker reported 2,806 homes sold, a modest decline of 143 homes. Five of the nine Central Indiana counties reported decreased sales compared to June 2014.
In June, Shelby County home sales surged 25.6 percent, raising the number of pended home sales to 54 from 43 in June 2014. Madison County saw an increase of 10.3 percent, while Hendricks and Hancock counties both experienced increases of 3.7 percent compared to June 2014. Johnson County saw the biggest decline, decreasing 17.3 percent compared to June of last year.
“Though conditions tilt toward a seller’s market, there are still great opportunities for buyers to find an array of houses at various price points,” said Jim Litten, president of F.C. Tucker Company. “Buyers are noticing inventory moving at a slightly faster pace, selling five days quicker year to date than in 2014.”
Available homes for sale in the nine-county region decreased 6 percent in June 2015 with 11,285 homes on the market, 715 fewer than in June 2014. All nine counties experienced varying inventory declines with Madison and Shelby counties tightening 21.9 and 16.2 percent, respectively. Johnson, Boone, Hendricks, Hamilton, Hancock, Morgan and Marion also saw declines.
Overall, year-to-date sales prices for the nine-county Central Indiana area increased by 4.8 percent. Tucker’s data indicates that eight counties experienced slightly higher home sales prices than in June 2014. Year to date, Madison County led the way with a 14.4 percent uptick in prices. Hendricks and Marion counties also saw increases of 7.6 and 7.1 percent, while Hamilton, Hancock, Johnson, Morgan and Shelby counties saw slightly smaller gains. Boone County experienced a decrease of 3.9 percent.
Of the pended home sales in the region last month, eight were priced at $1,000,000 or more; 92 were priced $500,000 to $999,999; 330 were priced $300,000 to $499,999; 478 were priced $200,000 to 299,999; 1,262 were priced $100,000 to $199,999 and 636 were priced at $99,999 or less.